THIS month began the Chinese year of the Dragon and last week a rather big one landed at Shannon Airport. Silent and subtle, China's influence on the world is hidden, but huge.

For hundreds of thousands of indebted and unemployed citizens, the Celtic Tiger is also well hidden from view. But not dead. Crouching perhaps, but alive. As Chinese astrology predicts for the Tiger this year: "If negative ways of thinking can be dropped, great moments will be given."

Barack Obama is to lower the US rate of corporation tax. Hopefully it won't undermine the vital presence of US multinationals here. But nothing can be taken for granted, and although the US will always be Ireland's number one friend, we need new friends too.

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